Construction/Building — January 9, 2013

December 2012 Housing Starts in Halifax

HALIFAX, NOVA SCOTIA--(Marketwire - Jan. 9, 2013) - Housing starts in Halifax, Census Metropolitan Area (CMA) were trending at 3,575 units in December, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)1 of housing starts. The standalone monthly SAAR was 1,306 units in December, down from 1,698 in November.

"Housing activity was mixed in Halifax in 2012 as single-detached starts increased while multiple starts declined," said Matthew Gilmore CMHC's Senior Market Analyst for Halifax. "Despite the year-over-year decline in multiples, apartment construction in the city remained relatively strong in 2012 with 1,437 new starts," Gilmore said. "The pace of residential construction in the city slowed towards the end of 2012, due largely to fewer multiples starts in November and December as compared to the high level of multiples activity recorded in August, September and October," added Gilmore.

CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of the housing market. In some situations, analysing only SAAR data can be misleading in some markets, as they are largely driven by the multiples segment of the markets, which can be quite variable from one month to the next.

Single-detached starts added 83 actual units in December 2012 compared to 63 units last year. Multiple starts totalled 29 actual units in December compared to 445 units reported in December of last year. Year-to-date total starts have reached 2,754 actual units with multiple starts at 1,763 units and single starts at 991 units. Total starts for the year were seven per cent below the level recorded in 2011.

Preliminary Housing Starts data is also available in English and French at the following link: Preliminary Housing Starts Tables

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.

Follow CMHC on Twitter @CMHC_ca

1 All starts figures in this release, other than actual starts and the trend estimate, are seasonally adjusted annual rates (SAAR) - that is, monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels. By removing seasonal ups and downs, seasonal adjustment allows for a comparison from one season to the next and from one month to the next. Reporting monthly figures at annual rates indicates the annual level of starts that would be obtained if the monthly pace was maintained for 12 months. This facilitates comparison of the current pace of activity to annual forecasts as well as to historical annual levels.

Additional data is available upon request

(Ce document existe également en français)

A graph is available at the following address: http://media3.marketwire.com/docs/Halifax_CMA_0109_EN.pdf


Preliminary Housing Start Data
December 2012
Halifax, CMA1 December 2011 December 2012
Actual
December - Single-Detached 63 83
December - Multiples 445 29
December - Total 508 112
January to December - Single-Detached 900 991
January to December - Multiples 2,054 1,763
January to December - Total 2,954 2,754
November 2012 December 2012
SAAR2
Total 1,698 1,306
Source: CMHC
1 Census Metropolitan Area
2 Seasonally Adjusted at Annual Rates
Detailed data available upon request.
Nova Scotia Preliminary Actual Housing Start Data
December / 2011-2012
Urban Centres Single-Detached Multiples Total
2011 2012 2011 2012 2011 2012
Urban Centres 100,000+
Halifax CMA 63 83 445 29 508 112
Cape Breton RGM 15 7 16 12 31 19
Total Urban Starts1 123 153 528 57 651 210
Nova Scotia Preliminary Actual Housing Start Data
January to December / 2011-2012
Urban Centres Single-Detached Multiples Total
2011 2012 2011 2012 2011 2012
Urban Centres 100,000+
Halifax CMA 900 991 2,054 1,763 2,954 2,754
Cape Breton RGM 124 154 143 145 267 299
Total Urban Starts1 1,605 1,810 2,470 2,115 4,075 3,925
Nova Scotia Preliminary Actual Housing Start Data
Fourth Quarter / 2011-2012
Urban Centres Single-Detached Multiples Total
2011 2012 2011 2012 2011 2012
Urban Centres 10,000 - 49,999
Chester MD 21 14 2 0 23 14
East Hants MD 17 16 3 2 20 18
Kentville CA 11 16 60 18 71 34
Kings Subd A SC 13 41 12 18 25 59
Lunenburg MD 28 30 0 0 28 30
New Glasgow 30 48 11 27 41 75
Queens RGM 2 3 2 4 4 7
Truro 27 29 2 11 29 40
West Hants MD 13 19 0 2 13 21
Yarmouth MD 6 6 0 0 6 6
Urban Centres 10,000 - 49,999 168 222 92 82 260 304
Nova Scotia Preliminary Actual Housing Start Data
January to December/ 2011-2012
Urban Centres Single-Detached Multiples Total
2011 2012 2011 2012 2011 2012
Urban Centres 10,000 - 49,999
Chester MD 52 38 2 4 54 42
East Hants MD 80 74 36 36 116 110
Kentville CA 52 58 84 39 136 97
Kings Subd A SC 50 59 28 36 78 95
Lunenburg MD 67 122 0 2 67 124
New Glasgow 86 87 45 47 131 134
Queens RGM 14 20 2 6 16 26
Truro 112 118 74 33 186 151
West Hants MD 50 71 0 4 50 75
Yarmouth MD 18 18 2 0 20 18
Urban Centres 10,000 - 49,999 581 665 273 207 854 872

Contact Information

Market Analysis Contact:
Matthew Gilmore
902-426-4686
Cell: 902-499-4382
mgilmore@cmhc.ca

Media Contact:
Caroline Arsenault
902-426-8127
Cell: 902-452-4448
cmarsena@cmhc.ca

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